JPMorgan Chase & Co. Cuts Brookfield Renewable (NYSE:BEPC) Price Target to $36.00

Brookfield Renewable (NYSE:BEPC) had its price objective trimmed by JPMorgan Chase & Co. from $38.00 to $36.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. Barclays upped their price objective on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $39.00.

Brookfield Renewable Trading Down 0.8%

NYSE:BEPC opened at $33.28 on Monday. The stock has a fifty day simple moving average of $36.06 and a 200 day simple moving average of $38.86. Brookfield Renewable has a 1-year low of $31.82 and a 1-year high of $45.18. The company has a current ratio of 0.40, a quick ratio of 0.33 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, August 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss Life Asset Management Ltd boosted its position in shares of Brookfield Renewable by 1.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after acquiring an additional 246 shares during the period. Syon Capital LLC grew its stake in shares of Brookfield Renewable by 2.7% in the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock worth $359,000 after acquiring an additional 247 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Brookfield Renewable by 1.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock worth $721,000 after acquiring an additional 284 shares during the period. Curio Wealth LLC increased its position in Brookfield Renewable by 30.4% during the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock worth $49,000 after acquiring an additional 290 shares during the period. Finally, Diversify Advisory Services LLC raised its stake in Brookfield Renewable by 0.9% during the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock valued at $1,429,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.